Amid deteriorating macroeconomic conditions, cash is crucial. Global VAT reclaim from international business travel is a way to recover some. ProKonsul Consulting’s Gaurav Sundaram provides pointers on maximizing the opportunity. Global VAT reclaim (GVR) is today the single-largest untapped savings opportunity inherent in business travel programs. The opportunity is twofold — monetizing both past and…
Actively managing the largest proportion of spending possible is a primary goal for buyers across various categories. The corporate travel category presents a unique set of challenges and opportunities. Areka Consulting’s Louise Miller explains. Many procurement professionals tell me they consider the percentage of spend under management as one of the top metrics defining procurement’s…
The easiest way to save on business travel costs or reduce emissions is to stay put, but that doesn’t have to mean killing collaboration. Once primarily seen as a travel replacement tool, remote conferencing now is “truly pervasive,” according to Frost & Sullivan. The technology serves a “broad range of internal communications as well as…
Buyers and sellers want an improved meetings sourcing process. They complain about the complexity and the volume of requests for proposals needed for the task. All would welcome a cost-effective, transparent platform for quicker searching, shopping and booking. These are the stated reasons for a combined $50 million investment in meetings marketplace Groups360 by Accor,…
Treasury & Risk magazine last month recognized Bristol-Myers Squibb for new payment programs that include virtual cards for meetings and a switch to Citi for greater acceptance. The company implemented the multi-faceted program in 32 countries within eight months. Sara Friedlander, BMS director of enabling services for global procurement, spoke on the magazine’s May 22…
It’s Adam Gordon’s turn to share GoldSpring Consulting’s insights. In this From The Field guidepost, the senior consultant delves into measuring the value of strategic meetings programs. While savings is the metric that gets the most attention, Gordon contends that it’s not nearly enough for understanding the benefits to an organization. SMM should address the…
A year ago this week, IHG announced a new operating structure. One part is an “integrated commercial and technology” organization that combines tech development for sales and distribution functions. Since then, the hotel company finished installing a new reservations system. It also introduced a small business program portal and an online sourcing solution for groups and…
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